Podcast
Questions and Answers
What is the main focus of internal auditors in verifying the operation or program under review?
What is the main focus of internal auditors in verifying the operation or program under review?
- Reviewing marketing strategies
- Checking if the operation is likely to achieve its objectives (correct)
- Inspecting external financial statements
- Ensuring the program meets regulatory requirements
Which type of evidence consists of verbal or written statements given by someone as proof in internal audits?
Which type of evidence consists of verbal or written statements given by someone as proof in internal audits?
- Documentary evidence
- Testimonial evidence (correct)
- Analytical evidence
- Visual evidence
What do internal auditors do with deviations and concerns identified during their reviews?
What do internal auditors do with deviations and concerns identified during their reviews?
- Discuss them with senior management
- Communicate them through audit reports (correct)
- Ignore them to avoid conflict
- Handle them without documenting
In internal audits, when might anyone being audited be asked to provide testimonial evidence?
In internal audits, when might anyone being audited be asked to provide testimonial evidence?
What is the purpose of gathering evidence in auditing processes?
What is the purpose of gathering evidence in auditing processes?
What types of procedures must internal auditors substantiate their work, conclusions, and opinions on?
What types of procedures must internal auditors substantiate their work, conclusions, and opinions on?
What is a common behavior that may be displayed by individuals being observed during audits, similar to social desirability bias?
What is a common behavior that may be displayed by individuals being observed during audits, similar to social desirability bias?
What is a risk associated with behavior modification during audit observations, as mentioned in the text?
What is a risk associated with behavior modification during audit observations, as mentioned in the text?
What is a key reason auditors should be cautious about behavioral changes when observing working conditions?
What is a key reason auditors should be cautious about behavioral changes when observing working conditions?
Which of the following is NOT mentioned as a type of document that auditors commonly review for evidence?
Which of the following is NOT mentioned as a type of document that auditors commonly review for evidence?
What is one purpose of auditors examining documents during an audit?
What is one purpose of auditors examining documents during an audit?
Why is it crucial for auditors to be aware of the possibility of false negatives during behavior modification observations?
Why is it crucial for auditors to be aware of the possibility of false negatives during behavior modification observations?
What is one of the procedural techniques mentioned in the text that an auditor can use to assess control design and effectiveness?
What is one of the procedural techniques mentioned in the text that an auditor can use to assess control design and effectiveness?
Why is asking open-ended questions considered more effective during an audit?
Why is asking open-ended questions considered more effective during an audit?
What is a common reason for mistakes in performing controls mentioned in the text?
What is a common reason for mistakes in performing controls mentioned in the text?
Why is it important for an auditor to understand where errors or fraud may occur in a process?
Why is it important for an auditor to understand where errors or fraud may occur in a process?
In operational auditing, what additional aspect should auditors examine besides the step-by-step processes?
In operational auditing, what additional aspect should auditors examine besides the step-by-step processes?
Which approach is recommended in operational auditing to gain a more detailed understanding of how work gets done?
Which approach is recommended in operational auditing to gain a more detailed understanding of how work gets done?
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